- Published on 18 May 2015
Zambezi Platinum successfully raises R4.6 billion
Johannesburg, 18 May 2015: Northam Platinum is pleased to advise that Northam shareholders have once again shown their overwhelming support for Northam’s landmark BEE transaction. The offer of 112,195,122 preference shares in Zambezi Platinum to existing Northam shareholders was made in proportion to their shareholding in Northam, through the issue of renounceable nil paid letters of allocation. Applications to subscribe for 174,128,116 new Zambezi Platinum Preference Shares were received, representing 155% of the offer shares. The preference shares are trading under the ZPLP ticker symbol.
As a result, Zambezi Platinum has successfully raised the funds required for purposes of acquiring 112,195,122 new Northam ordinary shares for an aggregate amount of R4.6 billion.
The capital raising has boosted Northam’s strong balance sheet enabling the company to pursue value-accretive growth opportunities to the benefit of shareholders and all stakeholders alike.
Please also see attached the announcement issued simultaneously on SENS.
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